There will remain plenty to choose from over the winter and spring inventory will be growing off an even higher base than last year.
The Two Minute Market Update is intended to keep readers apprised of what’s going on in local real estate markets and in the global financial markets that affect real estate via inflation, interest rates, capital flows and public policy. It is best suited for those not able to keep up with all the news every day, but still wanting to be informed.
TMMU – Strong Headwinds, November 19th, 2025
See the most recent monthly statistics for Lynn Valley and North Vancouver real estate.
North Vancouver numbers for November are trickling in and the results are mixed. Activity is continuing at a seasonally normal pace, but list prices are coming down and not always eliciting offers from buyers. Reported price numbers are therefore lagging behind what we are seeing on the ground and prices are likely to dip further over the quietest two months of the year, as motivated sellers become “price takers”. Inventory numbers are remaining historically high. If the trend holds, winter inventory numbers will be roughly on par with the spring markets of 2022 and 2023. That is, there will remain plenty to choose from over the winter and spring inventory will be growing off an even higher base than last year. Buckle up!
Lynn Valley Entry-Level Houses ($1.4-2.1M) | All North Vancouver
Lynn Valley Move-Up Houses ($2.1M-2-8M) | All North Vancouver
The federal budget was passed narrowly yesterday, with none of the parties apparently wanting to go back to the polls so quickly. The budget did not do anything to impact the resale market, so those hoping for policy to give a boost to struggling markets are needing to dig even deeper to find cause for optimism. Let’s summarize the headwinds to the markets:
- Struggling economy and weak wage growth caused partly by unresolved trade disputes
- Net outflow of population as immigration system is reformed
- Property investors net sellers due to rising costs and falling rents
- Massive amount of rental purpose construction only just beginning to complete (further pressuring the above).
- Unsold inventory held by developers being sold off
- Costs of building materials continuing to march higher, keeping developers away from single family redevelopment or land assembly transactions
- Aging out of place
On the flip side, there are throngs of move-up buyers seeing their first possible opportunity to enter the detached market and the overall supply of detached properties is falling in places like North Vancouver. With other asset prices inflating, real estate eventually becomes an attractive investment again. Interest rates are now at their lowest in nearly 3.5 years.
The biggest problem is prospective buyers of these detached properties are needing to sell their current properties while retaining enough equity to place down payments on the larger properties. Everyone is needing to reevaluate valuations of both properties given the above fundamentals. This is the narrative that is winning out and will continue to win until something tips the balance the other way.
Lynn Valley Townhouses | All North Vancouver
Lynn Valley Condos | All North Vancouver
Equity markets have made consecutive losing weeks stretch to overall 5% declines in the S&P 500, 3% in the TSX and 9% for the “Magnificent 7” tech stocks. You’d think it’s much worse than that given the headlines and the Volatility index at 25. There’s a ton of fear and pessimism out there. It’s possible that it turns into a further wash out, but these situations tend to resolve with rapid pushes to new highs as the selling intensity exhausts itself.
Bitcoin has dropped below $90,000 for the first time in 7 months. Since 2017 it has experienced a whopping 9 corrections of 30% or more (3 exceeded 70%). This current correction almost joined those ranks and it feels like it might with a final capitulation event. That might be healthy long-term. Gold is still hovering around $4000/oz as some of the speculative fervour is wearing off. If gold’s monetary role is truly returning, this would be a temporary pause. You can bet gold miners are running their facilities at full capacity with these prices on offer, so demand needs to keep up with that new supply. Oil is languishing from overall economic growth questions – the downward trend in prices remains. If metals are the early part of a larger commodity cycle, oil tends to follow. Energy stocks have underperformed for years now. The AI boom has taught us that we need more energy – of all kinds.
Matthew Stiles
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Disclaimer: The information provided in this column is for general informational purposes only and does not constitute financial, investment, or other professional advice. While I strive to provide accurate and up-to-date information, I make no warranties or representations as to its accuracy, completeness, or reliability. Any actions taken based on this information are at your own risk. Always consult with a qualified financial advisor before making any investment decisions.